King's Cross leasehold conveyancing Example Support Desk Enquiries
I am in need of some leasehold conveyancing in King's Cross. Before I set the wheels in motion I would like to find out the number of years remaining on the lease.
Assuming the lease is registered - and almost all are in King's Cross - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title.For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I wish to let out my leasehold apartment in King's Cross. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for permission?
Even though your last King's Cross conveyancing lawyer is no longer around you can review your lease to see if you are permitted to let out the premises. The accepted inference is that if the deeds are silent, subletting is permitted. There may be a precondition that you need to obtain consent via your landlord or some other party prior to subletting. This means you not allowed to sublet without prior permission. Such consent must not not be unreasonably refused ore delayed. If your lease does not allow you to sublet you should ask your landlord if they are willing to waive this restriction.
I own a leasehold flat in King's Cross. Conveyancing and Nationwide Building Society mortgage went though with no issue. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1994. The conveyancing practitioner in King's Cross who acted for me is not around.What should I do?
First make enquiries of HMLR to make sure that this person is indeed the new freeholder. It is not necessary to instruct a King's Cross conveyancing solicitor to do this as you can do this on the Land Registry website for £3. Rest assured that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I am employed by a busy estate agency in King's Cross where we have witnessed a number of leasehold sales derailed due to leases having less than 80 years remaining. I have received conflicting advice from local King's Cross conveyancing solicitors. Please can you clarify whether the owner of a flat can initiate the lease extension formalities for the buyer?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the disposal of the property.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
What advice can you give us when it comes to choosing a King's Cross conveyancing firm to deal with our lease extension?
If you are instructing a conveyancer for lease extension works (regardless if they are a King's Cross conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We advise that you speak with several firms including non King's Cross conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. Some following of questions might be useful:
- How experienced is the practice with lease extension legislation?
- Can they put you in touch with client in King's Cross who can give a testimonial?
My wife and I have hit a brick wall in trying to purchase the freehold in King's Cross. Can this matter be resolved via the Leasehold Valuation Tribunal?
Most certainly. We can put you in touch with a King's Cross conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a King's Cross property is Flat 89 Trinity Court Grays Inn Road in February 2013. the Tribunal found that the premium to be paid by the tenant on the grant of a new lease, in accordance with section 56 and Schedule 13 to the Leasehold Reform, Housing and Urban Development Act 1993 should be £36,229. This case was in relation to 1 flat. The unexpired lease term was 66.8 years.
I acquired a studio flat in King's Cross, conveyancing having been completed 3 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding flats in King's Cross with an extended lease are worth £175,000. The ground rent is £65 charged once a year. The lease finishes on 21st October 2076
You have 50 years remaining on your lease we estimate the premium for your lease extension to span between £37,100 and £42,800 as well as legals.
The figure above a general guide to costs for extending a lease, but we are not able to advice on the actual costs without more comprehensive investigations. Do not use the figures in tribunal or court proceedings. There may be other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.